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Greggs delivers record profits in 2022
Baker Greggs delivered record sales and pretax profits in 2022 as it continued to open new stores while driving more traffic to existing outlets by keeping stores open later in the evening, growing its delivery offering thanks to its move onto takeaway platform Just Eat, and through its app-driven click-and-collect service.
Total sales jumped 23% as a result to £148.3 million, with like-for-likes at existing stores rising 17.8%.
Pretax profit increased at a slower rate of 1.9% as cost inflation remained a headwind, but this still hit a new record of £148.3 million and beat the £147.5 million forecast by analysts.
Greggs sees sales growth accelerate in early 2023
We saw further evidence that demand remains healthy this year after discovering that like-for-like sales were up 18.8% in the first nine weeks of 2023. That should provide confidence considering this has accelerated from the 18.2% we saw in the final three months of 2022.
Plus, Greggs plans to open another 160 new company-managed stores in 2023 while refurbishing 150 existing outlets. Greggs ended last year with 2,328 shops in its portfolio and is aiming to grow this to well over 3,000 ‘over time’, which will also require it to bulk-out its supply chain.
Markets believe Greggs will continue to grow its topline measures in 2023, albeit at a slower rate with analysts penciling-in sales growth of 10.5% and like-for-like growth of 6% this year. Meanwhile, consensus figures forecast pretax profits will grow 9.5% to hit another record high.
However, consensus figures for profit this year could be at risk, or at least geared toward the downside, after Greggs warned that cost inflation would remain a problem in 2023.
‘Cost inflation will continue to be a challenge in the year ahead, driven particularly by pay awards and energy costs, but we are confident that our outstanding value proposition will remain compelling as customers look to make their money go further. As such, we remain confident in the prospects for the business in 2023,’ said chief executive Roisin Currie, who took over at the helm of the baker last year.
Total costs were up almost 25% from the year before in 2022 but some areas will experience an even bigger rise this year. For example, it increased wages by around 4.9% in 2022 but said this would accelerate to about 8% in 2023.
‘Looking forward we expect overall input cost inflation in 2023 to be in the range of 9% to 10%,’ said Greggs.
Inflation remains a headwind, but Greggs has greater visibility of what to expect going forward compared to what it experienced in 2022. For example, food and packaging – representing about one-third of total costs – have been locked-in for the next four to five months. Its electricity costs are fixed until later this year, and it has already provided clarity over its single biggest cost as it prepares for wages to rise about 8%.
Still, there are some benefits. The inflationary environment is also enhancing its proposition that is underpinned by value, which is resonating with more price-conscious consumer in the current environment. That should allow Greggs to keep powering ahead, with investors hoping it can gain market share as independent stores have a tougher time coping with inflation and higher interest rates. That is also likely to be opening up prime locations for Greggs to occupy, having moved into major traffic hubs like Leicester Square in London and airports in Birmingham and Liverpool.
Greggs raises dividend
Greggs paid a final dividend for 2023 of 44.0p, which means the total full year payout has risen to 59.0p from the 57.0p ordinary dividend paid in 2022 (although this was down when the 40.0p one-off special dividend paid in 2022 is taken into account).
The dividend looks safe considering earnings per share came in at more than double what it is paying out. Greggs has a progressive policy that aims to grow dividends in-line with earnings.
Where next for the Greggs share price?
Greggs shares were volatile in early trade but are down 1.4% after settling down this afternoon.
The Greggs share price has been rising in a parallel channel for over five months and this remains intact. That means that a move toward the 3,000p mark remains an achievable goal. To get there, we would want to see shares first set a new 2023-high by moving above 2,820p and then recapture 2,900p, representing the floor we saw in the second half of 2021.
Notably, the 11 brokers that cover Greggs see over 8% potential upside from here but think climbing to 3,000p could be a stretch considering they have an average target price of 2,982.50p, according to data from Refinitiv.
The floor of the parallel channel should hold as it has since late September, but the 50-day moving average is there to provide a safety net should it break lower.
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- Open a City Index account, or log-in if you’re already a customer.
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As the 2017 edition of the French Film Panorama in China is about to officially end, this event organized by UniFrance will continue for a few more weeks under a new and totally different guise. In fact, since July 12, a selection of French VR works has been made available for viewing via the Chinese application Eyepetizer.
Gathered together under the title "We Love French VR," the French virtual reality creations presented in this special program will benefit from heightened exposure through this initiative. With fiction, animation, documentaries, and more, the selection covers all genres with the aim of giving Chinese general audiences the chance to discover French virtual reality works in all their diversity.
One particular characteristic that stands out in French VR works is that they are created by artists whose backgrounds are often far removed from the movie industry—coming, for example, from the worlds of theater, dance, or video games—and who therefore approach this medium from a fresh perspective.
Following in the footsteps of the USA and Canada, France has succeeded in securing a strong position in the ultra-competitive sector of immersive content creation. UniFrance has already reported on the recent successful achievements of French VR works, such as I, Philip, Notes on Blindness, and S.E.N.S VR, and now, with this new endeavor, we are excited to play a part in offering an opportunity for Chinese audiences to explore these works.
In China, VR has already become highly popularized, and with a population of 1.3 billion people this nation is set to play a key role as a trend forecaster in the development of immersive content and its reception by general audiences.
Accessible for viewing only in China until September 12, the program consists of the following films:
With thanks to Camera Lucida/Gengiskahn Production/Innerspace/Uni-VR

domain: news


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Another Monday is in the bag folks, so give yourselves a pat on the back. We’re starting things off tonight by having a look at the latest iPhone rumors. Current whispers are telling us that pre-orders for the next iPhone will become available on September 12 – the same day that Apple is expected to reveal it – and that it’ll become available at AT&T later on in the month. We also caught a glimpse of the reported logic board in the next iPhone, and it seems that this new logic board is leaving room for a larger battery and LTE capabilities.
In other news, one of Apple’s studies claims that people buy Android phones largely out of a feeling of loyalty to their carrier, and it seems that the iPhone maker licensed out patents to Microsoft while Samsung declined to bite. Fisker has made a new statement about the Karma that spontaneously caught fire in California this past weekend, and the Samsung Galaxy Note 10.1 was given a release date in the UK. RIM is looking to get rid of NewBay as it seeks fast cash while BlackBerry 10 development continues, and Samsung has announced that a new black Galaxy S III is coming soon.
Sad news for Nintendo fans living in Europe today, as Nintendo pushed the Wii U’s release date back to December. We had a couple pieces of news about Motorola today, some of it good, some of it not so much. The Motorola PHOTON Q 4G LTE is releasing on August 19, but Motorola Mobility announced today that it will be laying off 20% of its workforce. Electronic Arts is eyeing Windows Phone 8, and Amazon is looking to capitalize on the back to school frenzy by putting its tablets on clearance.
Researchers at the University of Warwick have come up with a way of making fat-free chocolate that apparently tastes like the real deal (yes, really), and President Barack Obama shared some words of encouragement with the NASA Curiosity team earlier this morning. He even promised continued support for what NASA is doing, and that is definitely a good thing. Speaking of space, it seems that the Google Earth satellites have discovered something very interesting: additional Egyptian pyramids. The ARM-based IdeaPad Yoga has been revealed as Lenovo’s Windows RT tablet, and it would seem that the LG Optimus Vu is arriving in the United States before the end of September.
The Neo Geo is getting another shot at life with the Neo Geo X Gold, the Steam Community is about to undergo a makeover, and App.net hit its crowd-funding goal with just two days left to go. That does it for the day’s news, but be sure to check out this freshly-posted review of the Lenovo IdeaCentre A720 by Chris Burns. Enjoy the rest of the evening, everyone!


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MTN has announced that its MyMTN Home Uncapped plans will now also offer 5G speed offerings, with a 50Mbps and 100Mbps plan now available….
Microsoft could be on the verge of launching Xbox Live for devices running Android and iOS. The move has the potential to put the Redmond-based company’s online gaming service into the hands of a vast number of new customers.
To date, Xbox Live has only been available on phones running Microsoft’s Windows Phone OS — which holds a relatively small share of the smartphone market.
Speaking to Forbes, a Microsoft representative recently said the company was open to running the service on other devices but refused to confirm any possible release date.
“While the Xbox Live experiences and games always work best on the Windows platform, we understand that some Xbox fans may be using other types of devices,” a Microsoft spokesperson reportedly stated.
“To satisfy that need, we are working to extend a few of our Xbox experiences and titles to other platforms.”
The Xbox Live platform is fairly significant money spinner for Microsoft and the tech giant acknowledges the role it played in growing Xbox 360 platform revenue $2.7-billion or 48% in 2011.
According to tech news site Softpedia, the most compelling evidence that Microsoft is getting ready to unleash Xbox Live for iOS and Android is a job listing posted by the Redmond-based company. In the listing, Microsoft reportedly “noted plans to bring Xbox Live to ‘Windows Phone, iOS and other mobile platforms’”.


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Recent profiling by 2gether found that the women on its platform spent 37% of cryptocurrencies on food and groceries.
2gether is a Spain-based collaborative financial platform that allows users to buy, sell, and spend different cryptocurrencies in the European Union (EU).
Other than spending on food and groceries, the study also found that women spent 17% on transportation, 15% on finance and investments, 12% on leisure, and other types of spending.
The platform comprised of 23% of female users with mostly at the age of 26 to 45 years old. The most common professions of their female users are service sector professionals, lawyers, accountants, and economists.
The highly most traded cryptocurrencies by female users in its platform are 69% Bitcoin and 30% Ethereum. The rest are other types of cryptocurrencies supported by the 2gether platform.
You can read more about the study here.


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U.S. inflation continues to soar
January marked the tenth straight month of inflation above 4.0% in the U.S
By Siddhartha Bhattacharya, ATB Economics 10 February 2022 1 min read
Inflation in the U.S. is the highest it has been since February 1982. Relative to a year ago, the unadjusted consumer price index for all urban consumers was up 7.5% in January, surpassing the 39-year high reached in December (+7.0%).
January marked the tenth straight month of inflation above 4.0% in the U.S. Compared to the level prior to the pandemic, consumer prices in the US stood 9.0% higher relative to January 2020.
Allowing for seasonal variation, prices ticked up 0.6% from December. This was mostly a result of increases in food (+0.9%) and shelter (+0.3%) costs. Energy prices contributed to the overall uptick too as lower gasoline (-0.8%) and natural gas (-0.5%) prices were largely offset by a 4.2% increase in electricity prices.
In 2021, annual consumer prices in the U.S. soared 4.7% outpacing the Canadian inflation rate, which increased 3.4%.
Canada’s consumer price story for January is scheduled for release next week.
The U.S. Federal Reserve is expected to begin raising interest rates to help cool inflation following its next meeting on March 15-16.
Answer to the previous trivia question: At $1.8 billion, Nunavut had the highest level of international merchandise exports among the three territories in 2021.
Today’s trivia question: When did Hawaii become a state?


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SALEM, Ore. — An investigation that began in 2014 has culminated in telecom company CenturyLink settling with the state of Oregon for $4 million in addition to other concessions, according to the state Attorney General's office.
The state alleged that CenturyLink engaged in deceptive advertising and billing practices, charging customers undisclosed fees, and failing to provide promised discounts to customers.
“Purchasing internet, phone service and cable is confusing enough without false promises, and confusing prices and fees. Today’s settlement sends a clear message that hidden fees and other forms of unfair and deceptive business practices will not be tolerated in Oregon,” said Attorney General Rosenblum.
Oregon's Department of Justice (DOJ) opened an investigation into CenturyLink back in 2014 after receiving more than 1,000 consumer complaints, according to the Attorney General's office, "including complaints about the company misrepresenting the price of services, failing to inform consumers of terms and conditions that could affect the price, and billing consumers for services they never received."
In 2018, complaints about telecommunication companies topped the DOJ's list of top 10 consumer complaints. Since 2014, the number of complaints against CenturyLink alone have gone beyond 1,200, according to Rosenblum's office.
Under the settlement, CenturyLink will have to refund $672,000 to more than 8,000 Oregonians who were either overcharged or did not receive a promised discount. The telecom is supposed to contact those people directly.
The settlement also stipulates that CenturyLink must do the following:
- Stop charging new customers the “Internet Cost Recovery Fee,” a fee that was not always previously disclosed to consumers until they received their first bill.
- Stop charging a “Broadband Cost Recovery Fee.”
- Allow current customers to have an opportunity to transition to another plan without the fee.
- Clearly disclose all mandatory fees and charges in future advertisements.
- Stop charging cancellation and unreturned equipment fees if they are not disclosed at the time of sale.
Rosenblum's office said that the DOJ is also pursuing a separate securities class action lawsuit against the company for similar conduct.
Any Oregonian who believes they have received bills with undisclosed fees can file a consumer complaint, or contact the Attorney General Consumer Hotline at 877-877-9392.


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- 2 min read
US recession set to impact India, may lead to growth slowdown in medium-term
The impending growth slowdown in the United States is set to hamper the growth trajectory of India in the medium term, analysts say. In the medium term, with a ‘prolonged mild recession’ in the US, as the firm has forecasted, India’s economy is likely to see a growth slowdown. Growth challenges exist already, with India being the only Asian country whose inflation is furthest above its target.
The impending growth slowdown in the United States is set to hamper the growth trajectory of India in the medium term, analysts say.
Research firm Nomura in a note on Thursday said that as per its Nomura India Normalization Index (NINI), the Indian economy is now racing back to above-normal levels, led by broad-based improvements across consumption, investment, industry and the external sector.
The service sector was trailing at around 4pp below pre-Covid levels in March 2022, but is now trending at close to 40pp above those levels. This uptick is expected to support the Indian economy’s growth trajectory in the near term.
“Our US economics team has recently downgraded its base case for the US economy to a mild recession starting in Q4 2022, reflecting tighter financial conditions, a negative sentiment shock for consumers, worsening energy and food supply disruptions and weaker global growth prospects,” it said in a note.
The US constitutes around 18% of India’s merchandise export market and over 60% of India’s IT-ITeS exports. Alongside, the broader global growth slowdown is also likely to weigh on India’s export and investment outlook.
“When combined with elevated levels of inflation that is eroding consumption growth and the growth sacrifice from tighter financial conditions, suggests a broader growth slowdown for India over the medium term,” it said.
Nomura expects India’s GDP growth to average 7.2% on an annual basis in 2022 and moderate to 5.4% in 2023, with risks to the downside.
Soft landing in the US: Impossible?
Be it the stock market, commodities or yields, all have taken a hit in the recent weeks amid rising recession risks. Experts are divided over if a recession is already here or if it is heading for one.
In a bid to rupture the spiralling inflation, central banks have undertaken aggressive rate hikes, the US Federal Reserve being no exception. This is likely to trigger an economic downturn.
Fed Chair Jerome Powell on Wednesday acknowledged the possibility of the same, when he told the Congressional lawmakers that the central bank is ‘strongly committed’ to bringing down inflation and can do so with its monetary policy tools.
“We’re not trying to provoke and don’t think that we will need to provoke a recession," Powell said. “But we do think it’s absolutely essential that we restore price stability, really for the benefit of the labor market as much as anything else.”


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Recently, the future of exclusive releases has become a hot topic of discussion in the gaming industry. In particular, we've seen Microsoft bring exclusive Xbox games from its internal teams to Switch and PlayStation. Meanwhile, Sony has released a major PS5 and PC exclusive at the same time, announcing more PC ports of its beloved titles in the meantime.
Now, his little stone came into this discussion to put an end to it Shawn Laydenwho lived for 30 years in Play Station He was even president of SIE America for a while, as well as head of global studios.
Therefore, speaking with GamesBeat, the former head of PlayStation explained that the exclusive availability of the game on one platform is a big problem when production costs reach levels that are unimaginable today.
“When a game costs more than $200 million, exclusivity is your Achilles heel. It reduces the addressable market. Especially when you're in a live game service or a free-to-play world. Another platform is just another way to make a bigger funnel, to bring in more the people.
In the free-to-play world as we know it, 95% of people will never spend a penny. Business is about transformation. So you need to improve your chances by making your conversion funnel bigger. Helldivers 2 showed this for PlayStation, which was also released for PC at the same time. This has made the oppression even greater. “It brought more people.”
Of course, with Signle Player games, there's not the same pressure to release them on multiple platforms, Layden explained. However, he noted that if the budget reaches $250 million, companies still want to sell to as many people as possible, even if it is only 10%. He added to this:
“The global installed console base – if you look at the PS1 and everything else, wherever you look, the total number of consoles out there never exceeds 250 million. It doesn't exceed it.
Dollars have increased over time. But I look at this and I see that we are getting more money from the same people. This happened during the pandemic, which prompted many companies to overinvest. Look at our numbers, they're going up! We have to go after this missile!”
For more, you can find the full interview By clicking here.
“Avid problem solver. Extreme social media junkie. Beer buff. Coffee guru. Internet geek. Travel ninja.”


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Apple plans to release new models of its popular line of all-in-one iMac desktop computer this week, according to sources “familiar” with Apple’s “retail operations” who spoke with Apple Insider. The new iMac line is said to come loaded with Intel’s zippy new Sandy Bridget Core i processors.
Debut of the new iMacs is said to go down tomorrow, Tuesday, May 3. In addition to the Sandy Bridge update, which will greatly increase the processing power of the new desktop models, the latest iMacs are said to come with Intel’s uber-fast Thunderbolt port.
Both the Sandy Bridge chips and Thunderbolt were recently instituted into Apple’s computers with the recent release of the latest line of MacBook Pro laptops. Thunderbolt, debuted in February, provides data transfer speeds of up to 10 gigabits per second, which clocks in at about 20 times faster than USB 2.0, and roughly twice as fast as USB 3.0.
Reports from late last year indicated that the new iMacs will be available in new panel sizes. Currently, Apple offers only the 21.5-inch and 27-inch varieties. The all-in-one line is also said to receive a price reduction, from its current $1195 and $1695 price points. Neither of these rumors have been confirmed.
So, why should anyone believe this rumor? First, Apple hasn’t revamped its iMac line since July 2010, so the time for new specs is growing ripe. Second, Apple Insider’s source says a “visual night,” during which several Apple employees work through the wee hours in preparation for a product rollout, is scheduled for tonight, May 2. “So it is highly likely that whatever new product that is going to be refreshed or introduced will be done on [May 3],” the source said.
If accurate, this week’s release of new Apple desktops comes at a time when mobile computers, like the iPad and iPhone, are filling the Cupertino-based company’s coffers. But surely there’s still a place for a big, bright screen that won’t fit in a backpack. Right?
- 6 things I want to see in the new iMac
- HP flash sale sees laptops, gaming PCs available from just $250
- Apple could soon put an M3 chip in its worst laptop
- A new iMac and 15-inch MacBook Air are almost ready to launch
- How to screen record on an iPhone or iPad


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108.10台灣銀行家雜誌第118期 / By David Stinson
RegTech, not Blockchain, is the Path Forward for PaymentsBankers Digest
International remittances are not a point of pride for the banking industry. With the internet and liquid foreign exchange markets, it should be possible to send money from two points anywhere in the world at minimal cost. In many cases, however, the process is unnecessarily complex. Remittances are a key source of currency inflow for some developing countries, and also an important means of support for low-income populations. In several countries with significant out-migration including Kyrgyzstan, Tonga, Tajikistan, Haiti, Nepal, and Liberia, remittances make up over 25% of GDP. Accordingly, the topic has received increasing attention from multinational development organizations. Sustainable Development Goal (SDG) 10.C of the United Nations aims to reduce the transaction cost of a US$ 200 transaction to US$ 6 by 2030, from US$14.20 in 2018. Major political battles have been fought over taxes with smaller rates. Furthermore, actual transactions are often smaller than this benchmark, generally causing rates to be even higher. World Bank statistics show a global total of US$ 689 billion in remittances in 2018, but informal, illegal channels make up an unknown market share and the above figure would probably increase if more customers could be brought into the formal sector.There are a variety of reasons for these high costs, imposed on people who can least afford it. While some of these issues are specific to developing countries and exist on the receiving end of the remittance, others apply to the banking sector as a whole. The question of remittances has received attention recently with the high-profile entrance of a plan to disrupt the market: Facebook Libra. Libra features a stablecoin architecture – a blockchain cryptocurrency backed by actual deposits to guarantee its value. Digging deeper, though, Libra's real value comes not from its blockchain design, but rather its user data.The last mileThe challenge with remittances is not getting the money into the country, but rather getting it into the hands of consumers in a usable form. In the cases of Western Union and MoneyGram, the problem is simply the physical costs of the branches: the two service providers have a combined total of over 800,000 branches globally. Western Union has a 150-year history and has so far proven somewhat immune to various waves of financial innovation, but its market position is ripe for disruption.Another major factor, relating directly to the regulatory concerns mentioned above, is “de-risking” on the part of commercial banks. Remittances must usually pass through intermediaries called Remittance Service Providers (RSPs). These entities are often smaller, based in the receiving country, and may not have the infrastructure to store all customer information. Banks, facing various global, regional, and local regulatory requirements, have often decided that such customers are often not worth the risk.A third factor ties in with the previous one. Efforts to bring local operators into compliance have had the effect of reducing competition. Exacerbating this effect, some post office systems and national banks have also entered into exclusive partnerships with specific operators, preventing new entrants from gaining market share. Meanwhile, since these are developing markets, consumers may not be entirely aware of their options and prefer only traditional routes.Mobile money transfer has ameliorated this problem, helping reduce branch costs and increase consumer knowledge, even without the need to more fundamentally rethink payments. Yet, a deeper solution will involve reducing the role of RSPs. It is worth noting that in the case of cryptocurrency, e-wallets or exchanges take over the role of RSP as an additional layer in the stack between the bank and the consumer, but there are still some reasons to think they may have an advantage over the traditional method.A look under the hoodFacebook has had ambitions in payment services for a long time. In 2010, it promoted Facebook Credits, which were successful enough to generate 16% of its revenue in 2012. However the project eventually fizzled as the system still relied on other providers, and did not control enough of the payment process to become profitable. Facebook’s recent announcement of the Libra project marks an attempt to “enable a simple global currency and financial infrastructure that empowers billions of people,” according to the Libra White Paper.The project has attracted widespread regulatory scrutiny, largely due to its association with the Facebook name. Much of this pushback has involved concerns over market competition as regulators on both sides of the Atlantic become more skeptical about large tech giants. Facebook also owns WhatsApp, Messenger, and Instagram, and would likely also link Libra to those ecosystems. Reportedly, Facebook's direct influence over the Libra cryptocurrency will be checked by the Libra Association, which aims to have at least 100 other shareholders by launch time.Silicon Valley has acquired a reputation for innovations that “disrupt” existing regulatory structures rather than technologies. Uber’s activist business model involved systematically challenging outdated municipal taxi laws. Is it feasible for to Libra become the Uber of payments, and be unconstrained by anti-money laundering (AML) laws created to ensure compliance in traditional financial services?By highlighting remittances, Libra’s announcement may in fact challenge some aspects of the global AML regime. Governments have been purposely vague about what exactly needs to be checked, under the apparent premise that “if banks get clear guidelines on what constitutes adequate KYC they will never look any further than the minimum requirements,” according to John Callahan, CTO of Veridium digital identity. Some observers say that whatever you do, it's never enough. Meanwhile, the fines involved can be enormous. Cases including HSBC and Standard Chartered have scared the industry straight, but the result has been that small transactions – which pose little risk – have become more difficult. Governments could do more to clarify the KYC process.On the other hand, the Libra model does not aim to challenge existing regulations head-on. The currency can be traded in the dark as cash, but this is no different from other cryptocurrencies. The more interesting part of the proposal – and where Facebook will have more direct control – is an associated wallet, a Facebook subsidiary called Calibra. This is where regulatory overview of individual transactions would take place, and is also where Facebook may be able to bring its data advantages into play. Facebook has pledged not to use Calibri data without user permission, but large brands typically have no problem obtaining user permission when it comes to essential tasks like receiving money. Thus, we should compare Libra to WeChat Pay, not Bitcoin. In fact, Calibra may even allow regulators to have greater insight into monetary flows than the status quo. In a July Facebook blog post, David Marcus, head of Calibra, highlights “the ability for law enforcement and regulators to conduct their own analysis of on-chain activity.” In the past, they would rely on banks to provide suspicious activity reports (SARs), which proved to be a major regulatory burden. Offloading this task to government can likely boost efficacy. A new nicheLibra’s announcement may herald a new split between the technology-driven and investment-driven worlds of finance. Libra coins are probably not intended to be held for long periods. They don’t earn interest, and their value is pegged to a basket of currencies that could fluctuate in any local currency. These fluctuations may be acceptable within the context of overnight holdings, and much more expensive alternatives, but may be less so over longer periods. Some observers have noted the lack of banks on the Libra Association’s list of partners, despite the presence of a variety of other sectors related to payments. It may be attempting an end-run around bank-led payment systems. The question is whether the practice will pass regulatory scrutiny.If it successful, there are a variety of other markets it could attempt to disrupt next – many with strong incumbents. PayPal, for example, also charges fees of nearly 4%. This is equivalent to staying 20 extra minutes a day at an 8-hour job. Uber charged US$ 43 billion to credit cards in 2018, meaning that it probably lost on the order of US$ 1 billion in transaction fees. Payment itself is conceptually simple, but the need to monitor flows of funds imposes direct costs while also reducing competition. The technology industry may be best equipped to handle this requirement, not through decentralization, but rather by streamlining cooperation with financial supervisors. And if solutions inspired by the tech industry can succeed in the world’s least-developed markets, they stand a good chance of being adopted everywhere else.


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*Scroll down to the bottom of the article to find your discount code for ALL Cannacares CBD Products
Morocco is set to legalise cannabis for medical use. The Moroccan government has ratified draft legislation that would allow the medical use of cannabis. However, the legislation still has to pass through the Moroccan parliament.
Th incoming law would introduce the formation of a Moroccan regulatory agency to deal with the new medical cannabis sector. Even though this change of the law surrounding medical cannabis is very positive. Recreational use of cannabis will remain outlawed.
The draft legislation proposes that illicit cannabis cultivation sites would be transformed into legal and durable activities that would drive innovation in the Moroccan cannabis industry and it would create jobs for the Moroccan population.
Morocco has long been considered one of the market leaders and top producers of illegal cannabis. This seems like a sensible first step to transform this expertise into providing medical cannabis that can compete on a global scale. The formation of a regulated medical cannabis market means that the Moroccan can begin to take control of the cannabis sector that has for so long been controlled by criminals.
A recent publication by the United Nations Office on Drugs and Crime (UNODC) disclosed that Morocco is the largest producer of hashish on the planet. Hash is also known as cannabis resin and Morocco is believed to be Europe’s largest supplier of cannabis.
Morocco is believed to have produced over 700 tonnes of cannabis in 2020.
There is said to be approximately 55,000 hectares of land in the mountainous region of Rif are used to produce illicit cannabis. It is expected that such operations will soon shift to produce medical cannabis products. The reforms may help to improve the lives of Morocco’s farmers.
The bill was approved by the Moroccan Cabinet on the 12th of March after numerous delays. The legislation will now be submitted to the Moroccan parliament. If the legislation passes, then Morocco will become one of only a few countries in the region to have legalised cannabis which could give them a first mover advantage. There are many senior Moroccan politicians that support the new legislation including the country’s Prime Minister. However, there are a number of parties that are opposed to the bill including the powerful Islamist Justice and Development Party.
If the legislation is passed by the Moroccan parliament, a new medical cannabis sector will be launched, paving the way for Morocco to compete on the global playing field of medical cannabis.


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Motorola recently launched the Moto E4 Plus smartphone in India, and the device went on for sale via Flipkart yesterday. Priced competitively at Rs. 9,999, Motorola has put the device against the likes of Lenovo K6 Power and Xiaomi Redmi Note 4. Everyone expected that the device would fail miserably due to the usage of lacklustre MediaTek MT6737 chip.
However, Flipkart today announced that it had sold over one lakh units of the Moto E4 Plus within 24 hours. Following the midnight launch on July 12, Flipkart sold at a rate of over 580 units per minute (for the first 60 mins). Close to 1.5 lakh customers showed interest in the product by visiting the product page in the first hour of going live.
The press statement released by Flipkart says that "The run up to the launch and sale was driven by an innovative marketing campaign from Flipkart, seamlessly combining social media and offline activation. In the 3-day long campaign, an innovatively designed, first of its kind “Mobile-Mobile Charger”- vans fitted with multiple charging points - travelled across Bangalore reaching out to customers with low battery woes."
And the company claims that people could tweet #NeedPowerPlus and find out the location of the van. The campaign connected back to the Moto E4 Plus by showcasing it as a permanent solution to low battery problems thanks to its 5000mAh battery. Overall, the campaign reached out to over 45 million people on social channels with impressions of over 71 million. By this way, Flipkart promoted the device, which paid off very well.
Furthermore, among the customers buying Moto E4 Plus, approximately 3% customers also used the consumer-friendly affordability initiative on Flipkart - BuyBack Guarantee. As part of the BuyBack Guarantee program, customers were offered a BuyBack price of Rs. 4000 on the Moto E4 Plus if exchanged within 6-8 months of purchase.
For the unaware, the Moto E4 Plus boasts of a 5.5-inch HD display with a resolution of 720x1280 pixels. The device is powered by the octa-core 64-bit MediaTek MT6737 chipset, along with 3GB of RAM and 32GB of internal storage. The phone also comes with a dedicated microSD card slot.
There's a 13MP rear camera with LED flash and a 5MP front-facing camera. The phone runs on Android 7.1.1 Nougat with Google Assistant pre-installed. The USP of the phone is its 5000mAh battery under-the-hood, rated to deliver two days of battery life with moderate usage.


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Manchester’s latest food and entertainment space, Society officially opened its doors last week.
Describing itself as a ‘culinary adventure’, the brand-new food and entertainment space in Manchester’s Barbirolli Square provides a fresh addition to the city’s already thriving cultural scene.
Opening its doors from 12pm every day, the high-ceilinged space has room for 350 guests, with nooks, banquettes and long tables designed to allow visitors to dine, drink and socialise throughout the day.
During the morning and afternoon, Society serves as the perfect venue to grab a spot of brunch, dinner and tea – we’re talking loaded fries and burgers courtesy of Slap & Pickle, authentic Indian street food by Chaat Cart, fresh stone-baked pizzas from Dokes Pizzeria and dishes from the heart of Korea by Yoki.
The Society team have also curated a schedule of events, including food & drink collaborations between traders from the kitchens, live music events and takeovers and collaborations with celebrated local chefs.
As the twilight hours arrive, however, Society transforms into a bustling evening destination, inviting local workers and residents to gather for drinks at the cocktail bar or freshly brewed pints from Hebden Bridge-based craft brewery, Vocation.
There is also a rotating line-up of resident DJ’s spearheaded by Manchester party favourites, Regal Disco, a number of Manchester special guest DJ’s, as well as Pete from London indie darling, On The Corner Records and curated daily playlists.
Nick Gregory, Director and co-founder of Society, said: “We’re very excited to finally open the doors and look forward to welcoming guests throughout the day, evenings and weekends at Society.
“We’ve got an incredible line up that will showcase local food operators as well as our 2021 events programme that will be dedicated to highlighting independent artists from Manchester’s thriving music scene.
“It’s so important to us to create a destination that showcases the very best of Manchester and Society will be just that.”
Society’s current opening hours are 12pm-11pm, Sunday-Thursday, 12pm-12am Friday-Saturday – no booking required. For more information, visit their website here.
You can now get Biscoff-flavoured gin and it looks incredible
Gin like you’ve never had it before…
A revolutionary gin liqueur that tastes exactly like Biscoff biscuits is now a thing, and it looks absolutely bloody marvelous.
Now, you’ll all be aware that Biscoff has boomed in popularity in recent years – what was once the random little biscuit you’d get free with your coffee is now a cultural phenomenon.
These days, Biscoff is just as famous for its delicious smooth and crunchy spreads as it is for its original biscuits. You can also buy Biscoff sauce, Biscoff ice cream and Biscoff and Go pots. It’s a great time to be alive.
But now, possibly the best – and definitely the most boozy – Biscoff invention has landed: The Biscoff flavoured gin liqueur.
Okay, people have already been making Biscoff espresso martinis for quite some time, but never before has there been an actual spirit flavoured after the stuff.
Courtesy of the Boutique Gin Co., Biscoff fans far and wide will be able to get their hands on a bottle of Ginscoffi, a gin liqueur which combines delicious notes of cinnamon and caramel to create a deliciously sweet and warming gin liqueur that is perfect for sipping on cold evenings.
The Ginscoffi creators suggest for the spirit to be enjoyed mixed with ginger ale or simply on its own over ice – they also recommend adding it to cocktails favourites to add a festive twist, such as in an espresso martini.
Layla, the Chief Ginnovator behind the drink, said: “I am a huge fan of biscuits such as Biscoff and biscotti so to me it made sense to try to combine those flavours to create a brand new flavoured gin liqueur.
“It has taken me almost a year to create the recipe, but I think the end product is something really unique. Even if you aren’t a gin fan, Ginscoffi will blow you away. Its sweet cinnamon and caramel taste is so versatile and is ideal for making chocolate or coffee based cocktails, and it has a lovely festive feel to it.
“We’ve been having so much fun using Ginscoffi to create loads of tasty cocktails. Fans can check them out on our website and social media pages.”
There’s a new Pan Asian bottomless brunch with endless prosecco and cocktails
This could be the best bottomless brunch offering yet…
A new bottomless brunch complete with authentic Pan Asian dishes and an abundance of cocktails and prosecco has landed in Manchester and it looks incredible.
Tampopo has been serving up wonderful dishes inspired by the far-flung countries of Thailand, Vietnam, Malaysia, Indonesia and Japan to Mancunians since 1997 and, now, it has launched its first ever bottomless brunch menu.
The exciting new deal offers a selection of Pan Asian delights alongside those all-important ninety minutes of free-flowing drinks – sounds like a match made in heaven, doesn’t it?
Diners can tuck into either a two-course or a three-course brunch special, which includes the likes of Thai Green Curry, Beef Rendang or a Katsu Curry.
There are also a number of sweet treats up for grabs on the menu, including Tampopo’s famous ‘Little Moons’ and a number of refreshing sorbet options.
On the drinks front, guests can then indulge in ninety minutes of bottomless prosecco, bellinis and Tiger beer, as well as a selection of mocktails and juices; ideal for those who fancy something a little less boozy.
The menu will be available every single day from 12pm-5pm at the Albert Square, Corn Exchange and Trafford Centre venues, with two courses costing £34.95, and three courses costing just a little bit extra at £37.95.
Walk-ins are welcome, though bookings are advised to avoid disappointment.
Fancy it? Make your own booking here.
Price of a pint could rise by 25p in October, Sacha Lord warns
The humble pint is set to become even more expensive…
Greater Manchester’s Night Time Economy Adviser Sacha Lord has warned that the price of a pint could be rising from October 1st.
Lord estimated that both food and drink prices will rise in line with the government’s hike in VAT for the hospitality sector – the tax rate for pubs, bars, restaurants and other hospitality establishments was reduced to 5% to help the hospitality sector survive the pandemic but, two weeks ago, it was announced that it will increase to 12.5% at the end of the month.
By 2022, it is expected to return to the usual 20%.
The price of an average pint in England is predicted to rise by 25p to £3.94, while the average glass of wine is likely to shift from £4.07 to £4.35 to cover overall losses felt by operators.
This week, Lord has urged the Government to rethink the increase, calling for the move to be delayed until the industry recovers to pre-pandemic levels.
He said: “The 5% VAT rate was the single biggest recovery measure for the industry over the past eighteen months, and has enabled venues to stay in business and staff to keep their jobs. Removing this relief will have a severe effect on operators across the country.
“VAT is the biggest expense in any business, and it is the quickest way to reduce cash flow. For businesses who have little-to-no cash reserves as a result of the pandemic, it could be last orders.
“Many operators will be forced to pass the increase onto the customer to stay afloat, and we could see prices across food and drink rise by as much as 7-10% from October as bosses attempt to recover losses and fight the dire financial situation they find themselves in.”
Lord continued by stressing that the VAT increase will see the permanent closure of many local and independent venues, before warning that ‘we have a tough winter ahead for our nightlife sector’.
He said: “Operators will take at least three years to recover from this pandemic, and I urge the Government to rethink this rise and extend the current rate until that point. The hospitality industry is vital to the UK’s recovery and growth.
“Cancelling a measure which will result in venues closing, staff being made redundant and VAT bills left unpaid through bankruptcy will only hinder, not help the economy. To punish the sector now will have devastating consequences just as it starts to recover.”


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A HANDSOME Mexican man has become an internet star after being labelled the “world's sexiest cashier”.
Irvin Villatoro, 21, works on the checkouts in American chain Costco and is said to have admiring female customers constantly flocking to the shop just to catch a glimpse of him.
This year, gorgeous Irvin even participated in the Mr Model Chihuahua contest, in the northern Mexican state where he lives.
Since then, photos of him wearing his shop uniform have circulated online where they attracted more than 3,500 likes and 2,600 comments within hours of being posted.
One web user said: "I would go there so that he could pack everything for me, hahahah".
Another wrote added: "Oh god, how gorgeous! With that service, I would go to the shop every day."
According to his Instagram page, Irvin will now take part in Mr Model Mexico 2017.
It is not known whether he is working in Costco full-time or as a part-time job.
MOST READ IN LIVING
Last week, the super-buff cashier uploaded a video to social media showing him topless working out at his gym, doing chin-ups, press-ups and flips, hinting he is on the look-out for modelling work rather than focusing on his retail career.
Irvin’s impressive workout routine included a set of inspiring handstand press-ups and walking on his hands.
Form a queue, ladies…
Earlier this year, we revealed the super-hot vet who looks like Superman actor Henry Cavill and has over 900k Instagram fans and the superbuff pilot who posts hunky topless shots and photos of his globetrotting lifestyle to his thousands of Instagram fans.


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Churchill Downs photo
150 Days From Historic Kentucky Derby 150
Churchill Downs Press Release
LOUISVILLE, Ky. – The official Kentucky Derby 150 Mint Julep Glass was unveiled Wednesday to commemorate the milestone celebration of 150 days until the 150th running of the Kentucky Derby presented by Woodford Reserve on Saturday, May 4.
Also, a #MyDerbyMemory social media contest was launched for fans to win a trip to the landmark anniversary of the Longines Kentucky Oaks and Kentucky Derby.
The official Kentucky Derby 150 Mint Julep Glass is now available for purchase at www.KentuckyDerbyStore.com and select retailers, including the Kentucky Derby Museum. The official Kentucky Oaks 150 Lily Glass will be available for purchase Jan. 10.
Since its inception in 1938, the Kentucky Derby Mint Julep Glass has grown in popularity and is viewed by many authorities as the leading Derby collectible.
This year’s design for the beloved, collectible keepsake is adorned with the classic Kentucky Derby red roses and lists every official Kentucky Derby winner – from Aristides in 1875 to Mage in 2023.
In addition to the customary Mint Julep Glass, guests attending the 150th Kentucky Oaks and Kentucky Derby at Churchill Downs will receive an exclusive Mint Julep Glass and Oaks Lily Glass available only on-site. The exclusive glasses will feature a frosted casing with a gold trophy and gold lilies, respectively, which adds a priceless piece of memorabilia to this historic occasion.
Kentucky Derby fans can win a trip for two to the 150th Kentucky Oaks and Kentucky Derby by participating in a new national #MyDerbyMemory social media contest. Derby enthusiasts are invited to share their cherished memories that capture the essence of the iconic event by using the hashtag #MyDerbyMemory on social media platforms X (formerly Twitter) and Instagram through Jan. 31. In addition to tickets to the Oaks and Derby, the first prize includes a $5,000 travel stipend and hotel accommodations.
“We are incredibly excited to reach the 150-day milestone on the road to the 150thKentucky Derby,” said Churchill Downs Racetrack President Mike Anderson. “The #MyDerbyMemory contest is an opportunity for fans to share their love for the Derby and be a part of this special celebration. Additionally, the unveiling of the official Kentucky Derby 150 Mint Julep Glass and the exclusive on-site glass for Oaks and Derby attendees adds a unique touch to this once-in-a-lifetime event.
Tickets for the 150th Kentucky Oaks and Kentucky Derby have seen unprecedented demand with limited premium and luxury experiences still available. Fans are encouraged to secure tickets by visiting www.KentuckyDerby.com and www.DerbyExperiences.com or by calling (502) 636-4447 to be a part of the most extraordinary Kentucky Derby yet.
The 150th running of the Kentucky Derby on Saturday, May 4 will honor the legacy of the longest continually held sporting event in the U.S. while showcasing the enduring spirit of the Kentucky Derby. For more information, visit www.KentuckyDerby.com or www.Derby150.com.


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Chatbots: A better experience for banking customers?
As we touched on in our recent article about social customer service, the possibilities to provide support over private channels such as Facebook Messenger are expanding. Not least because, as Mark Zuckerberg announced at the F8 conference last week, Facebook has introduced ‘chatbots’. According to their press release, “Bots can provide anything from automated subscription content like weather and traffic updates, to customized communications like receipts, shipping notifications, and live automated messages all by interacting directly with the people who want to get them.”
The technology includes a Send/Receive API, so that businesses can automate the sending of text and also ‘interactive rich bubbles’ – basically, quite straightforward content – to the platform’s 900 million active users. Developers and businesses will get the necessary documentation to build and submit bots for Messenger; Facebook will decide ‘gradually’ which ones get approved. The chatbot API is named ‘Messenger Platform’, and is clearly aimed at businesses.
There are also ‘Messenger Codes’, similar to QR codes and possibly an imitation of the recently launched ‘Snapcodes’ from Snapchat, which allow messenger users to scan a circular icon (from anywhere, with their phone) and add a brand to their chat list.
Indeed, according to Campaign magazine, the layout in the app “looks very similar to Snapchat’s ‘stories’ page that features discover options”, with people in one row and bots in another.
Finally, Facebook has launched the Wit.ai Bot Engine, which will allow developers to build more sophisticated chatbots. These bots will eventually be able to interpret intent, use natural language and learn and improve themselves over time.
An old new innovation
The ‘bots store’ may be new but Brand Republic argues that chatbots have been around since before the internet, referencing the first instant messaging applications for desktop via AOL and MSN. Of course, there are several select brands who have already been involved in testing the technology, including Lyft, Uber and KLM.
According to the Drum, businesses already using branded bots include retailer Spring, which provides a personal shopping assistant, and CNN, which delivers breaking (and personalised) news via its bot. The known bots are listed here.
The end of brand apps?
An interesting point, raised by Matt Owen at Clickz, is that the technology can be used beyond customer service to market to potential clients. “Essentially you can now set up drip nurturing campaigns directing users to various content, and host it directly inside messenger.”
Shona Ghosh at Brand Republic argues that the attention and coverage Facebook enjoys makes it a more sensible choice for investment than a dedicated brand app. “If Facebook’s vision comes to pass, businesses are more likely to be building their own bots than dedicated mobile apps, with the social network acting as the unified layer. The benefit for Facebook, if it pulls it off, is that it becomes indispensable, a kind of mini, closed version of the web.” KLM is one brand that seems to think that the future lies with chat apps rather than company websites.
However, Facebook’s foray into artificial intelligence is not supposed to be used for pure advertising but businesses will be charged to send ‘Sponsored Messages’ to those already engaged with them.
Facebook claims: “We are focused on facilitating messages from businesses that provide meaningful value to the people who receive them. People will be able to mute and block communications that they don’t want to receive. There are also strict policies for developers and businesses to uphold and we will have review processes to ensure we carefully evaluate how our community is responding.”
Better service from a real person, for now
Mapa Analysts have recently had experience with some chatbots used by banks to provide social customer service… and were less than impressed. “It was really apparent that a robot was responding rather than a real person. We asked about cancelling a card and the keyword ‘card’ was all that the robot appeared to understand, returning lots of links to more information on registering and using a card, but not the answer we needed (which was available on the bank’s site). The emotional side of customer service is still definitely missing from existing chatbot technology, from our experience.”
TechCrunch writer Sarah Perez has noted that one problem is a lack of greetings in some chats – how do you start a converstion with a bot? – and, like the Mapa Analysts, Perez expressed disappointment that some bots didn’t return the relevant information (even after a simple request) and some were downright snarky.
Like us, Perez found that she’d be better off searching for products on the website than conversing with the bots, and said: “While these tests were brief, it goes to show that Messenger’s chatbots are still a long way from fulfilling their potential to be a useful way to interact with businesses and brands through chat. These bots clearly need to be able to interact with their human customers more conversationally, and have a better understanding of what people are actually saying to them.”
It’s clear that, while the technology may be progressing, the desire to speak to a real person – with some empathy and skill in finding the right answer quickly – may outweigh the desire to stay within your favourite messaging app to conduct all your business, at least for now.
Still plenty of potential
Of course, there’s more to chatbots than just answering customer service queries – and the scope for banks to use the technology creatively to win and retain clients is pretty big. We asked Matt Owen, head of social for Clickz, for his thoughts on the future of chatbots in the financial services industry:
“Obviously there are various compliance and security concerns within the sector, but I still believe there are a range of possibilities for chatbots within financial services. FAQ-style customer service is the most obvious one, but there’s are lots of personal banking applications – moving money from account to account, monitoring your spending and budgeting and so on (wouldn’t it be useful to have a chatbot mention your balance should you stray too close to your favourite bar? A nice willpower boost!).”
“However, I think the real value may be in the insight banks gain from when and where customers interact with these services. They will help add a layer of data that more accurately models individual customer circumstances and spending habits, allowing more personalised account tailoring (including automated investment advice), which should lead to higher retention rates and increased lifetime value. While the blockchain isn’t quite there yet, it’s clear that ideas of personal value and currency are becoming more flexible and portable, and this kind of automation and data gathering should allow banks to become more aligned with modern consumer needs (including removing the need to line up in a branch for many tasks!).”
We wouldn’t be surprised to see retail banks adopting chatbots en masse over the next few months. What will be interesting will be monitoring the execution: seeing who is doing it so well that we can hardly tell it’s a robot replying to our questions.
View more info on Facebook’s chatbots for messenger at https://developers.facebook.com/docs/messenger-platform/product-overview.
Our Customer Servicing on Digital Channels report looks at how banks are innovating to provide customers with the right support in the right place at the right time, including the use of diverse social channels and AI. To subscribe to the Insight Series reports, contact us today.


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A new report has surfaced in Korea quite recently, and according to it, Samsung has already started working on the Galaxy S9. This report is based on unnamed sources, but according to its content, Samsung is already developing the all-new Galaxy S flagship, though these are only early stages of the development, of course. Now, in addition to the general info, The Bell managed to get their hands on some additional info, read on.
If this report is to be believed, Samsung’s R&D team has been working on the display panels for the Galaxy S9 for a little while now, since late March, apparently. If reports are to be believed, Samsung really decided to board the Galaxy S9 train early this year, as the company started working on the Galaxy S8 about half a year before the phone got released. Now, the company’s quality control process might be to blame here, as they implemented it after the Galaxy Note 7 fiasco in order to make sure everything is in order before they release a new smartphone. Now, the source also mentioned that the company plans to supply display samples really soon, in mi-April, and in about a month and a half, other parts of the device will start coming together it seems.
Now, the source did not provide any other details when it comes to the Galaxy S9, which was to be expected considering it’s way too early to know what specs will the phone sport, and what design can we expect, as Samsung probably doesn’t have such info yet either. The Galaxy S8 and Galaxy S8 Plus smartphones were introduced a little over a week ago, and the company is currently trying to create enough devices in order to meet the demand, or at least come close to it. The Galaxy S8 and Galaxy S8 Plus have been well received, at least based on initial impressions, and even though most of us are probably interesting in seeing what will happen with the Galaxy S9, we should be more focused on the Galaxy S8 and its larger sibling, as we probably won’t get any concrete Galaxy S9 info for 6+ months.


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Xiaomi has launched the Redmi 5, the company’s latest entry-level smartphone in India. Xiaomi Redmi 5 is pitched as a ‘Compact Powerhouse’, featuring a taller display in a small body and slim bezels. Redmi 5 has been launched in three variants: 2GB RAM+16GB storage, 3GB RAM+32GB storage, and 4GB RAM+64GB storage. The entry-level model with 2GB RAM and 16GB storage is priced at Rs 7999, the 3GB RAM +32GB storage will cost Rs 8,999, and the 4GB RAM +64GB storage variant costs Rs 10,999.
Xiaomi Redmi 5 will be made available through Amazon India, Mi.com and Mi Home Stores. Xiaomi will begin selling the Redmi 5 in India from March 20 at 12pm. Redmi 5 will also be made available through offline retail outlets in India. Redmi 5 was launched in China in December last year, along with the Redmi 5 Plus.
As for launch offers, there is an instant Rs 2200 cashback from Reliance Jio with 100GB additional data, and a 5 per cent discount on Mi.com and Amazon India using SBI credit cards. Plus, users are also eligible to get 90 per cent off on their first Kindle e-book purchase.
Redmi 5 looks familiar to the company’s recently launched the Redmi Note 5 and Note 5 Pro in terms of design. However, the phone is designed to target the entry-level segment. Xiaomi Redmi 5 will take on the likes of Samsung’s Galaxy J7 Nxt and Motorola’s Moto G5s. Far big changes become apparent when you look at the Redmi 5’s front, which sports a 5.7-inch HD+ display (1440 x 720) pixels. Xiaomi’s Redmi Note 5, which also has an 18:9 ratio, costs Rs 9,999 in India.
Xiaomi is pushing the Redmi 5’s strengths to the limit. Not only does it come with an extra tall display, Redmi 5 also comes with a zippy Snapdragon 450 processor and a 3300mAh battery. The device also gets a 12MP rear camera and a 5MP selfie snapper with an LED flash. The phone runs on MIUI 9, which is based on Android 7.0 Nougat. Redmi 5 succeeds the Redmi 4, which was launched in India last year.
“Xiaomi entered 2018 in India with a very strong momentum after surpassing Samsung to become the no 1 smartphone brand in the country,” Shobhit Srivastava, Research Analyst at Counterpoint Research, told Indianexpress.com. One of the key reason for its growth is its aggressive portfolio driven by a strong presence in the online segment with now expanding offline with Mi homes and Mi preferred retailers. The launch of Redmi 5 in India will further strengthen Xiaomi’s portfolio in its target segment of the mid-range smartphone.” The analyst further said that the Redmi 5 will bridge the gap between Redmi 5A and Redmi Note 5 smartphones.
The launch of the Redmi 5 proves that Xiaomi is adopting a focused approach to increase its user base in India. The company has disrupted the smartphone market with a strong portfolio across various price segments. Global smartphone makers like Samsung and Apple have long ignored the low-end market. This provided Xiaomi an opportunity to become India’s top smartphone maker.


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- Nike flies to record after strong earnings forecast
- FedEx slips after missing 2022 profit forecast
- Virgin Galactic takes off on space tourism approval
- Indices en hausse : Dow 0,69%, S&P 0,28%, Nasdaq 0,02%
June 25 (Reuters) – The S&P 500 index hit an all-time high on Friday, boosted by gains from Nike and bank stocks, as weaker-than-expected inflation data eased concerns over a sudden cut in measures stimulus from the Federal Reserve.
Nike Inc (NKE.N) jumped 13.9% to an all-time high after the sneaker maker forecast sales for the fiscal year ahead of Wall Street estimates, helping the Dow Jones rise 0, 69%. Read more
Inflation has been the backbone of markets in recent sessions, with the latest personal consumption expenditure (PCE) data showing that a measure of core inflation rose less than expected in May. Core PCE rose 3.4% year-on-year as expected, above the Fed’s flexible 2% target. Read more
The data “gives people a breath of fresh air and inflation fears can be a bit overblown,” said Thomas Hayes, president of Great Hill Capital LLC in New York City.
Investors are also gearing up for possibly the biggest trading event of the year, as FTSE Russell rebuilds its indices that could reflect a wild trading year marked by the pandemic and a “meme” stock market craze.
The S&P 500 and the Nasdaq were on course for their best 11 weekly jump after a deal on a bipartisan infrastructure deal and insurance from Fed Chairman Jerome Powell calmed nerves after the hawkish surprise of the central bank last week.
“You had this difference of opinion among the members of the Fed, and what everyone seems to forget is that President Powell is driving the bus and he’s got the pedal to the metal,” Hayes said.
The S&P Banks Index (.SPXBK) jumped 1.2% after the Fed announced that the big banks allowed the latest stress test and will no longer face pandemic-era restrictions on the market. repurchase of shares and payment of dividends. Read more
Nine of S&P’s top 11 sectors rose, with Financials (.SPNY), Materials (.SLPRCM) and Healthcare (.SPXHC) among the biggest gainers.
Consumer Discretionary (.SPLRCD), home to some of the mega-cap tech names like Tesla Inc (TSLA.O) and Nike, was the top performer.
As of 11:25 a.m. ET, the Dow Jones Industrial Average (.DJI) was up 235.96 points, or 0.69%, to 34,432.78, and was set for its best weekly performance since mid-March.
The S&P 500 (.SPX) was up 11.77 points, or 0.28%, to 4,278.26 and the Nasdaq Composite (.IXIC) was up 2.91 points, or 0.02%, at 14,372.62.
FedEx Corp (FDX.N) fell 4.5% after the U.S. delivery company missed its 2022 profit forecast due to hiring difficulties. Read more
CarMax Inc (KMX.N) jumped 6.3% after the used car retailer topped Wall Street estimates for quarterly earnings, helped by strong demand as more people opted for personal vehicles rather than public transport due to the COVID-19 pandemic. Read more
Billionaire Richard Branson’s spacecraft company Virgin Galactic (SPCE.N) jumped 34.8% after receiving approval from the U.S. aviation safety regulator to transport people into space. Read more
Rising issues outnumbered declines by a 1.67-to-1 ratio on the NYSE and by a 1.44-to-1 ratio on the Nasdaq.
The S&P Index recorded 19 new 52-week highs and no new lows, while the Nasdaq recorded 92 new highs and five new lows.
Report by Devik Jain and Medha Singh in Bengaluru; Editing by Maju Samuel
Our Standards: The Thomson Reuters Trust Principles.


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[Editorial] Cost of Misrepresenting Inflation
What are the factors driving inflation?
- It is a mistake to conclude that inflation is solely driven by sharp rise in prices of several goods. Such a conclusion would be way off mark when these goods’ have only a small weightage in the Consumer Price Index’s consumption basket.
- For instance, there has been a spike in the prices of edible oils and crude oil– the latter especially after the Ukraine-Russia War’s outbreak. It is being highlighted as the major cause of India’s current inflation situation.
- However, these 2 commodities have a relatively low share in the consumption basket based on which CPI is determined.
- A study of price trends show that the price inflation of the commodity groups ‘fuel and light’ (proxy for imported fuel price) and ‘fats and oils’ (proxy for edible oil prices) has been lower in 2022’s 1st 5 months compared to the situation in 2021’s last 5 months.
- On the other hand, the price inflation of ‘food and beverages’ group is now higher than last year. Notably, this group’s direct contribution to inflation dwarfs all other groups’ contribution.
- This shows that the current situation is more significantly driven by domestic factors. This can also be seen from how India has been witnessing a rising inflation trend since October 2021– even before the war broke out in Eastern Europe.
How far can monetary policy control inflation?
- The RBI has been raising the repo rate since May. This policy of increasing the interest rate to control inflation involves an implicit assumption that an economy-wide excess demand is causing more money to chase fewer goods.
- However, such an assumption is contradicted by how the food prices are rising faster than other goods’ prices. The relative price of food has been increasing in the recent months.
- This shows that the excess demand is actually the demand for foodstuff.
- However, Indian authorities responsible for inflation management continue to create the impression that the inflation situation can be reined in using monetary policy.
Why is this stance concerning?
- This stance could be potentially harmful for the Indian economy. Holding on to the view that raising interest rates would solve the inflation issue could mean that attention isn’t paid to the necessary interventions on the supply-side.
- Notably, American economists have been calling for bringing back food surpluses in the USA- a country that has hardly ever faced food shortages. India, on the other hand, has had experience with food shortages and the average Indian household allocates a high share of its budget for food.
- Now, the additional undercurrent of food price inflation and the subsequent exacerbation of poverty stands in the way of a more rapid economic recovery and expansion.
What is the way ahead?
- Inflation is a major concern for governments across the world and there is even a speculation that a recession is fast approaching.
- Meanwhile, the domestic government has been holding that India is growing at a faster rate than most other economies and is facing an inflation rate lower than that of many other countries.
- India’s growth performance isn’t a surprise as its economy contracted the most among the larger economies in 2020-21. And yet, the country’s 2021-22 real output was barely higher than its pre-pandemic performance.
- Monetary policy is a macroeconomic tool and it can’t affect any particular price.
- Economists have been flagging the inadequacy of monetary policy in addressing inflation driven by food prices.
- Nobel Laureate Joseph Stiglitz, at the June WEF meet in Davos, said that the inflation problem cannot be solved by raising interest rates, as it isn’t going to create more food. He instead called for supply-side interventions.
- He said that trying to do everything to increase the global food supply is going to do more in addressing the current inflation situation.
- The head of US Federal Reserve Bank, Jerome Powell acknowledged that the bank’s tools could only so much in battling inflation caused by rising food and energy prices.
- There is a need to address the excess demand for foodstuff in the market.
- The current inflation reflects a domestic imbalance, hence, it would not be solved by the ongoing crash of food prices on the global market.
Failing to see that India’s inflation situation is due to economy’s structural shortcomings ensures that there is poor chance of solving a very urgent problem.
Practice Question for Mains:
How much of a role is international prices playing in India’s inflation situation? Discuss. (250 words)


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Topline: Actor/rapper Ice T gave Amazon some advice on Twitter—which quickly went viral Wednesday, the day of the company’s annual meeting—saying he almost shot an Amazon delivery driver because the worker wasn’t wearing a uniform.
“Message To Amazon: Now that you have regular people making your home deliveries.. Maybe they should wear a Vest with AMAZON DELIVERY on it..... I almost shot a MF creeping up to my crib last night.... Just sayin,” he wrote in a tweet.
Amazon’s SVP of operations Dave Clark replied personally, saying that the company is working on “innovations” about the issue and that customers can already track their deliveries on a map.
“Just sayin…thanks for the suggestion. We MF’ing love you and our drivers. Lots of innovations coming on this and many that already exist to help you track your package and delivery on a map. Thanks for being a customer,” Clark tweeted.
Why don’t Amazon workers wear uniforms? As Amazon builds out a sprawling logistic network, most of the company’s deliveries are made by third-party partner companies or Amazon Flex workers, which are independent contractors akin to Uber drivers.
Although, Business Insider reported, some Amazon couriers are beginning to use Amazon-branded uniforms and vans after the company offered third-party partners a special deal last year. Some Amazon Flex workers are also starting to wear neon Amazon vests, much like construction workers.


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Legal & General Group Plc Upped Stake in International Business Machs (IBM) by $10.98 Million as Share Value Rose
It worsened, as 62 investors sold IBM shares while 617 reduced holdings. Stock Yards Natl Bank And Tru Communications holds 0.25% of its portfolio in International Business Machines Corporation (NYSE:IBM) for 16,076 shares. Another trade for 1,000 shares valued at $114,673 was bought by OWENS JAMES W. $249,722 worth of International Business Machines Corporation (NYSE:IBM) was bought by WADDELL FREDERICK H on Thursday, November 1. More notable recent International Business Machines Corporation (NYSE:IBM) news were published by: Seekingalpha.com which released: “NAR: TSMC close to IBM chip order – Seeking Alpha” on November 19, 2018, also Digitaljournal.com with their article: “NYSE:IBM Shareholder Alert: Investigation over Potential Wrongdoing at International Business Machines Corp. – Press Release – Digital Journal” published on November 30, 2018, Seekingalpha.com published: “A Slow Motion Strategic Train Wreck With The Color Blue – Seeking Alpha” on November 10, 2018.


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After moving from Singapore to Seoul last year and producing record-breaking results, JEC Asia, the largest international composite materials exhibition in Asia, is returning to the Korean capital for its 11th edition.
JEC Asia 2018 will be held at Coex Convention & Exhibition Center (Coex) in Seoul from November 14 to 16. The JEC Group, which has the world’s largest network of composite materials professionals, holds the exhibition annually. The Seoul Metropolitan Government and Seoul Tourism Organization succeeded in bidding the three-day event, which was previously held in Singapore, for 2017 and 2018.
This year’s exhibition will be three times larger than it was last year. At the 2017 edition of the event in Seoul, a total of 174 companies installed 119 booths; 6,271 experts from 42 countries visited, and about 400 B2B meetings were held. This year’s JEC ASIA is expected to become an international composite materials platform that garners attention not only in Korea but across the Asia-Pacific region.
The Seoul Metropolitan Government and Seoul Tourism Organization provided support for the exhibition, including an overseas exhibition grant, Discover Seoul Passes, the operation of a Seoul promotional booth, Seoul welcome kits for participants, Seoul MICE Supporters, airport greeting messages, and the production of an advertisement image for the JEC Visitor Guidebook.
JEC Group’s events director Christian Strassburger commented: “We are very grateful for the support of the industry, government bodies, and academics regarding the evolution of JEC Asia that has led to the success of the platform.”
The composites exhibition focuses on end-user markets in a variety of sectors including the automotive, aerospace, renewable energy, architecture/construction, electrical and electronic equipment, sports leisure, and transport sectors. This year’s exhibition will look closely at automobile applications, in particular.
JEC Group’s new CEO Eric Pierrejean noted the suitability of the host destination for the composites event: “All the steps in the value chain for automobiles – from R&D to raw materials and OEMs – are in the Korean market,” which, he added, “has very great growth opportunities.”
Major composite material companies such as CHOMARAT, ARKEMA, M Torres, SAERTEX, Solvay, CGTECH, Hyosung, Toray Group, Hanhwa Advanced Materials, Hankuk Carbon, and KOLON will be participating in the exhibition. Major composite materials research centers from KCTECH, DYETEC, Gyeongbuk Hybrid Technology Institute, Hanyang University, KAIST, SNU, and UNIST will also participate. On November 14 – the opening day of the exhibition – the 13th International Carbon Festival (ICF), which is organized by KCTECH and the Jeonju region, will be held simultaneously.
At JEC Asia, the JEC Group will hold a three-day conference for the Asian composite materials market in addition to the exhibition, highlighting the latest applications of composite materials in the automotive and aerospace sectors. The conference, which will start with a keynote speech by the Hyundai Motor Group, will be attended by domestic and overseas experts from Hanhwa Advanced Materials, Hanyang University, CIKON, DIAB, Arkema, and CETIM. In addition, a business opportunity conference program is being organized separately to contribute to the creation of business opportunities between companies.
The Leadership Composites Circle will be held under the theme of „The Automotive Industry and Composites“ and will focus on the future of mobility and the automotive sector. A variety of programs related to the automotive sector will be offered, such as Auto Planet and a program where parts will be showcased. This year’s exhibition will feature a networking and knowledge creation program where you can get the latest information regarding innovative composite automobiles from Korea and abroad.
With more than twice as many participants – including those from the automotive, transport, aerospace, construction, sports, leisure, and consumer products sectors – taking part in this year’s JEC Innovation Awards, anticipation is high for the innovative products and services to be showcased.
Various events will also be held during the exhibition period, such as a tour of composites materials facilities and a student workshop program. A top buyer program will also be held with the aim of encouraging meetings between top buyers and exhibitors, and to support business collaboration.


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Google’s Dec. 17 Holiday Shopping Algorithm Update
Google launched an algorithm update on 12/17/2013, which according to MozCast, had the most significant ranking shift since Google Penguin 2.0.
To better understand the impact, Moz measures the impact by temperature. The hotter/higher the temperature, the greater the ranking shift from Google of the previous day. Example, Monday, December 16, 2013 saw a temperature of 67 degrees, on Tuesday, December 17, 2013 the temperature was 98 degrees. The result was a 46% shift in rankings in one day, which according to several industry articles caused a drastic drop in rankings. The timing of this couldn’t cause a greater panic for retailers as for many this was the last day for ground shipping.
PM Digital measured the day-to-day ranking shift from 12/17 – 12/18 of approximately 9,000 keywords and found a different and less negative impact in ranking compared to the Moz data. Some sites showed a growth in rankings (up to 4%).
Based on PM Digital’s data, the average percent shift in page-one rankings gained -0.38%. This is considerably less volatile than 46%. Based on the data above, the Google December 17th update isn’t a reason for alarm.
While algorithm updates from Google are valuable, it typically is not a reason for abrupt reaction.


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New Salesforce for Retail Innovations Help Personalize Every Shopping Moment
Casey's and Duluth Trading Co. are using Salesforce to connect to their customers in a whole new way
New research shows 65% of consumers will remain loyal to companies if they offer more personalized experiences
SAN FRANCISCO, Jan. 12, 2023 /PRNewswire/ -- Salesforce [NYSE: CRM], the global leader in CRM, today announced a series of new innovations to help retailers grow and optimize advertising sales, gain a single view of transactions across digital and physical stores, and unlock value from their customer data.
New Salesforce data* shows that a disconnected experience is the top frustration customers have with retailers. What's more, 79% of consumers surveyed plan to reassess their retail spending over the next 12 months. However, 65% will remain loyal to companies that offer a more personalized experience.
Consumers today expect every moment to be connected, personalized, and seamless, and to succeed now, retailers must deliver on those expectations," said Jujhar Singh, EVP and GM of Salesforce Industries. "Salesforce for Retail brings together the power and flexibility of Salesforce's platform with an expansive ecosystem so retailers can leverage real-time data to acquire new customers, deliver personalized experiences, generate advertising revenue, increase margins, and drive efficiency."
Salesforce for Retail Media helps retailers grow and optimize advertising revenue
Retailers navigating recent data privacy changes are looking for new ways to leverage shoppers' first-party data. New Salesforce for Retail Media innovations help them activate that first-party data, giving them new audience insights, targeting abilities, and the resources to grow advertising revenues. With Salesforce for Retail Media, organizations can:
Commerce Cloud innovations and partnerships create seamless shopping experiences
Retailers need to find new ways to grow revenue and margins while driving efficiency and cutting costs. New Commerce Cloud innovations create frictionless experiences to accelerate time to value, streamline operations, and keep shoppers coming back to retailers' digital stores. With Commerce Cloud, retailers can:
Retailers confronting economic certainty and tighter budgets must make every dollar count. With new innovations powered by Salesforce Genie Customer Data Cloud, retailers can unlock value from their existing customer data, drive efficiency by reducing integration costs, break down data silos, and manage data quality. It will help them:
And, with Salesforce Loyalty Management, retailers can better retain their customers, improve member engagement, and drive greater program ROI. Now, companies can rapidly deploy new promotions and personalize loyalty rewards programs, review promotion-predicted revenue, and take corrective actions to achieve promotion goals, all while delivering exceptional service experiences and better agent productivity.
Dynamic connected experiences help Salesforce customers drive success now
Casey's Delivers More Personalized Customer Experiences with Salesforce
"Before Salesforce, we had multiple fragmented marketing systems that did not talk to one another, and had no commonality," said Art Sebastian, Vice President of Digital Experience, Casey's. "When we selected Salesforce, we had the ability to easily organize and unify all of our customer data to communicate in a consistent way, leading to an increase in customer loyalty and less work for our marketers."
Duluth Trading Co. Creates Fast, Flexible, and Convenient Shopping Experiences with Salesforce
"In today's environment, it's important to keep a close ear and eye on what the customer is doing and be able to quickly pivot to meet their shifting needs," said Beth Heeney, Director of eCommerce, Duluth Trading Co. "Salesforce gives us the insights, flexibility, and efficiency needed to make that pivot while continuing to craft the exact experience our customers are looking for."
*Real-Time Connected Customer Research: This research is from a double-blind study of over 5,000 consumers across the US, UK, Australia, Canada and Singapore. Data was collected between December 14 and December 19, 2022. All respondents are third-party panelists. Data is representative of census age and gender. Cultural bias impacts survey results. Survey results will be published on the Salesforce Newsroom on January 19, 2023.
View original content to download multimedia:https://www.prnewswire.com/news-releases/new-salesforce-for-retail-innovations-help-personalize-every-shopping-moment-301720119.html
How Branded Calling Can Restore Consumer and Customer Trust in Voice Calling
Continental Breakfast - For Diamond, Platinum, Super Pass, Exhibitor/Conference, Speaker, Press Pass Holders


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In mint conditions
When designing coins, the artists strive to capture a piece of history while reinforcing the three pillars of Thai society
With loose, pulled back hair and a cowboy necklace, Vuthichai Sangngeon looks like a rocker from a previous generation. But behind the free-spirited artistic appearance is a 57 year old responsible for designing millions of coins minted every year.
Spectrum met the coin arts specialist one week after the passing of His Majesty King Bhumibol in the main building of Royal Thai Mint in Rangsit, where hundreds of collectors were lining up to buy a commemorative coin.
Waiting for reporters with assistant designer Rungsan Chotrungsun, 47, Mr Vuthichai was quietly observing people who were longing to own a coin that his team had made.
None of the crowd was aware that the bearded man was the person behind the designs of the collectibles.
Mr Vuthichai said, “No, we never tell anyone that we designed these coins, even though we enjoy watching people appreciating what we designed.”
Despite his low-key attitude, both designers and their team are behind several coins people use in their daily life, as well as limited editions and medals for people to wear on special occasions.
“My proudest moment was when we saw the King wearing a commemorative medal that our office designed,” said Mr Vuthichai. “My friends said they envy my work.”
Their small-denomination coins can fetch exorbitant prices. Old coins with small denomination value are sold at a much higher prices compared to their purchase value as they are hard to find and become sought-after items.
“Coins are a testament to changing times. They are more durable than banknotes. People collect coins to remind them of specific events,” Mr Vuthichai said.
The first commemorative coin under the reign of King Bhumibol was made in 1961 after the King and the Queen’s state visits to Europe and the United States.
The design team works on both circulation coins and commemorative ones. Rookie artists begin their work at the Royal Thai Mint by designing the commemorative coins before working on circulation ones which are more difficult.
Mr Vuthichai said more than 30 years ago he began with a commemorative coin of the Government Savings Bank. Shortly afterward, he was assigned to sculpt the reverse of a commemorative coin to mark the passing of Her Majesty Queen Rambhai Barni, the consort of King Rama VII.
“After that, the rest is history. I have done many and I’ve lost count,” he said while guiding the reporters through a showroom of different coins in a glass cabinet.
THE RIGHT DESIGN
The process of making Thai coins starts from a small team of six designers who draw up sketches.
The design of each coin varies, but they all have to embrace the concept of the Kingdom.
“Every circulation coin has to embody the concepts of the country, religion and monarch,” said Mr Vuthichai.
Generally, the circulation coins show a portrait of King Bhumibol on the obverse, symbolising the monarchy. The word “Thailand” refers to the nation. The image of a Buddhist temple appearing on the reverse symbolises religion, he explained.
Mr Rungsan said the age of the King in the portrait will be close or slightly younger than his age at the time of production. The portrait often has the King wearing full regalia.
After the team comes up with the design, they have to forward it for approval from a committee consisting of representatives from the Council of State, the Bureau of the Royal Household, the Office of His Majesty’s Principal Private Secretary and artists.
The artists will look at the aesthetic elements, while the rest will look at the appropriateness such as the location of emblem signs on the coins.
Asked whether the committee has ever rejected any design, Mr Rungsan said, “No, because we always presented alternative designs for them to look at as well.”
After the approval, the team would sculpt the model, which is eight times larger than the actual coin, before using a reduction punch to create the engraving plate.
While other countries apply more machinery and computerised machines in sculpting the mould, Thai designers still use their hands to sculpt it.
“Thai coins have generally more details than others. We have to use our hand to create more dimensions and layers. But we also work on simpler details such as letters by machine,” said Mr Rungsan.
The circulation coin series is composed of nine denominations: one, five, 10, 25 and 50 satang, and one, two, five and 10 baht. Of the satang coins, only the 25 and 50 are in wide use but the smaller denominations are minted in limited runs. Each coin has to be different to make it easy for people to differentiate.
The frequency of the new production varies. “I cannot recall when the last time we made a new design for circulation coins was. The interval is not fixed,” Mr Vuthichai said.
Before coming up with the new size of the coins, the Royal Thai Mint has to consult with the international mint community to ensure that the size of the new Thai coin does not duplicate those in other countries.
Years ago, it was reported a 10 baht coin was deposited in a European country’s telephone slot as it was similar to a coin used there. “We have to ensure the diameter of our new coins will not duplicate another,” Mr Rungsan said.
There are also other details to consider. The coin has to pass the test of visually impaired people as there has to be a Braille code to distinguish different denominations.
Each coin is expected to circulate on the market for nine years before it is sent for cleaning at the Royal Thai Mint for redistribution. The materials used in each coin are worth more than its face value.
“We have to collect the old coins because they are valuable. It is more economical to reuse them rather than minting new coins,” said Mr Rungsan. “Therefore, we have to prolong their life by making the design more durable. For instance, the portrait on the coin would not be a frontal because in the long run, the nose part can be easily broken. That is the why the edge of circulation coins should be a little higher than the centre area to protect the surface.”
As old coins have become collectibles, there are places popular for vintage coins such as Sanam Luang and Tha Prachan in Bangkok’s inner city.
Some coins became much sought-after items such as the limited edition 10 baht coins released in 1990. Coin collectors said they wanted to hunt it down because only 100 units of the series were created with the imported minting machine, which was being used for the first time in Thailand.
Mr Rungsan declined to comment on it, saying, “I cannot discuss the market prices. They are the results of our artistic crafts.”
Mr Vuthichai said, “When I see people lining up to buy our coins, I’m proud to see that people have placed high value on them.
“I am proud of my work because people say our coins are beautiful. Also, it’s cool to see our work in our purses every day.”
Not just spare change: Rungsan Chotrungsun, a designer at the Royal Thai Mint. Coins displayed at the Royal Thai Mint building, left. Each coin is designed to depict key concepts of Thai society, including the nation, monarchy and religion. Some coins reference specific historical events.
Times changing: The 10 baht coins made in 1990 are one of the most sought-after collectibles. Collectors eagerly sought ownership of one of the 100 units made in the series, which were created with a then-newly imported minting machine in Thailand.
History engraved: Students look at coins at the Royal Thai Mint. Collectors also like to find coins at Sanam Luang and Tha Prachan.


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Partnering up with Duck Down Records, which has released albums for rap acts such as Sean Price, Boot Camp Clik and Buckshot & 9th Wonder, Blue Scholars will be on the scene as it is set to release several projects through its partnership with the record label and with Seattle’s Caffe Vita Coffee Co.
Dru Ha, CEO of Duck Down Records states, “I believe Blue Scholars is positioned to be one of the next important groups, not just in Hip-Hop, but in music worldwide, and I want Duck Down to be a part of that. They bring their progressive ideas not just to their music and lyrics, but also in the way they think about and do their business.”
The venture with Duck Down Records is not the standard deal as Blue Scholars hired the label to be in charge of marketing for their upcoming work. Duck Down seized the opportunity and used this as a chance to become more creative and be experimental with strategies to continue growth at records labels and build them into practical businesses. Distribution will be handled by E1 Entertainment, the distribution partner of Duck Down, and digital sales will be handled by Tunecore.
Seattle Independent coffee company, Caffe Vita, will serve as the financing for the groups projects as it will also be used in terms of a sales and distribution plan through selling their albums at their retail outlets and utilizing their online presence.
“Coffee is both International and local, it effects the lives of millions, and it has tremendous ability to generate culture. We believe strongly in the work of the Blue Scholars and their power to look beyond the basic commodity that music has become. We are honored that Sabzi and Geo see that Vita is striving for the same goals.” Mike McConnell, founder Caffe Vita
For those that don’t know, Blue Scholars is a Hip-Hop group based in Seattle, Washington that can be categorized as being alternative rap. Being formed back in 2002, members Geologic and Sabzi were part of a grander entity know as The SHOW which stands for Student Hip-Hop Organization of Washington. In relation to their subject matter in music, the group chooses to focus on struggles between socioeconomic classes, challenging authority and youth empowerment. Those that are familiar with the group can reference tracks such as “Blink” and “Commencement Day”. The group has travelled across the nation and has appeared at the Sasquatch! Music Festival in 2005, 2006 and 2008. They opened up for Kanye West’s set in 2006 at Bumbershoot.
Blue Scholars have also rapped on stage alongside rap acts like Immortal Technique, Nas, De La Soul and Little Brother along with many others.
On August 25, the group is set to bring forth their newest project OOF!, a multi-media project, which will serve as the debut since their deal with Duck Down. There will also be a re-release of their 2007 album, Bayani, which will be called Bayani Redux. Fans should expect a brand new album along with more projects from the group coming shortly.
Check out some of Blue Scholars’ music here.


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Salt River Project’s nearly 1 million residential power customers now have another way to stay connected with the new SRP Mobile App for smart phones and tablets. Whether at home or on the go, it is a friendlier and faster way to pay bills, manage accounts and get the latest information if outages occur.
Do you have a news story or press release that you'd like considered for publication?
Send your release, a photo and your contact information to news@ santanvalley.com
The iconic Ringling Bros. circus is permanently closing after a run of nearly 150 years, facing declining attendance and increasing operating costs.
Anyone in Arizona, who purchased milk or milk products, at anytime since 2003, is eligible for a bit of cash.
The National Milk Producers Federation aka Cooperatives Working Together (CWT), Dairy Farmers of America Inc., Land O’Lakes Inc., Dairylea Cooperative Inc. and Agri-Mark Inc. agreed to settle a lawsuit where they were accused of conspiring to fix the prices of certain dairy products.
The trauma surgeon-turned-lawmaker who helped treat former congresswoman Gabrielle Giffords has proposed a helmet law that allows motorcycle riders to opt out.
The advanced Ag Science students at Combs High School are involved in building raised plant beds with a hands-on project. After the initial build of the greenhouses, students are now involved in implementing scientific practices by mixing their soil with the proper proportions of water and plant nutrients. The students will be growing all the vegetables needed to make salsa for the CHS staff.
Taco Bell plans to go nationwide this month with its latest concoction: a taco with a shell made entirely out of fried chicken.
Ellsworth Road will be closed south of Ocotillo from Friday, Jan. 27 at 7 p.m. to Monday, Jan. 30 at 5 a.m. There will be no access to Ocotillo Road from the south at Ellsworth Road during the closure; Ocotillo Road will remain open. The closure will allow for the removal of asphalt and pave the base. Completing the two pieces with a full closure instead of a flagging operation increases efficiency, safety and stability.
Around 9:15pm a fire broke out behind the Pima Crossings development in San Tan Valley. The fire started in an abandoned single wide trailer, no injuries were reported.


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By Betty Henderson • 07 October 2022 • 10:08
Italian fashion house heiress, Franca Fendi, died aged 87 on October 5 in Rome. Fendi along with her four sisters transformed their parents’ small family-run leather and fur business to a globally coveted fashion house, Fendi.
A lucrative deal signed between the sisters and German designer Karl Lagerfield in 1965 became the longest-running collaboration between a designer and a fashion house in the industry’s history, lasting 54 years.
Though Lagerfield’s work at Chanel became better-known, he formed a strong bond with the sisters during their lengthy collaboration, describing them as “the five fingers of a hand: inseparable, interconnected and always operating in unison”.
Franca worked as purchasing manager for Fendi, and latterly in Fendi’s boutiques in Rome until the company was sold in 1991. The fashion house was acquired by French LVMH in 2001, but one member of the Fendi family still works at the luxury brand.
Figures in the fashion industry paid tribute to Franca Fendi, and her achievements in propelling the family business to become one of the most iconic fashion houses in the world. Franca Fendi is survived by her four children.
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